HeiTech Padu wins RM19.2m substations deal

TheEdge Mon, Oct 23, 2017 07:06pm - 6 years View Original


KUALA LUMPUR (Oct 23): HeiTech Padu Bhd  has won a RM19.2 million contract to undertake mechanical and electrical works for renewable energy substations in Perak.

In a filing with the stock exchange, HeiTech Padu said its subsidiary, Duta Technic Sdn Bhd, was awarded the contract by Gading Kencana Development Sdn Bhd.

The contract is for the design, supply, installation and completion of mechanical and electrical works for a 132kV switching substation, and a 33/132kV step-up substation in Bidor.

HeiTech Padu will provide the complete design of the substations, high-voltage equipment, secondary systems and all ancillary plus single circuit loop-in loop-out of the switching substation to existing 132kV overhead transmission line of Tenaga Nasional Bhd.

Works for the project is scheduled to end on May 28, 2018.

The group said the contract will have a positive effect on its earnings per share.

“Nevertheless, the contract will have no material effect to the dividend policy, gearing, share capital and the substantial shareholders’ shareholdings of the company for the financial year ending Dec 31, 2017,” it added.

At closing bell today, HeiTech Padu was down one sen or 1.28% at 77 sen with some 55,900 shares done, giving it a market capitalisation of RM77.94 million.

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